According to the report published by Grand View Research, Global Purified Terephthalic Acid Market size was valued at USD 57.21 billion in 2016. Increasing usage of polyesters fibers owing to its ability to blend with other natural and synthetic fibers is expected to augment its demand over the forecast period.

Growing consumption of the product owing to its superior properties including excellent weathering, good chemical and stain resistance, good hardness, flexibility and glass transition temperature range is projected to propel industry expansion. Rising consumption of the product in home furnishing and bottling is expected to stimulate industry growth.

Increasing demand for the PTA films in construction and commercial industries owing its superior tensile strength, good dimensional stability, high optical clarity, less moisture absorption, and excellent electrical properties is expected to spur industry size.

Polyester fiber was the dominant segment and accounted 63.2% of the overall volume share in 2016 and is expected to witness substantial growth as a result of increasing usage in apparel, carpets, carpets, curtains, nets, and ropes. Rising demand for polyester in textile owing to its high tenacity and durability will augment industry expansion over the forecast period.

In April 2015, Reliance Industries Limited (RIL) announced commissioning of new purified terephthalic acid (PTA) plant having a capacity of 1,150 kilo tons per annum at Dahej, Gujarat in order to meet increasing demand for the product.

About Grand View ResearchGrand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.